China and gold facts.

There are several facts re gold that we need to recognize.

Gold has been mined for over 5K years and most of it is still around. How much? The best estimate is 165,000 metric tons.

The annual production? 2,500 tons.

Which countries produce them?
http://www.numbersleuth.org/worlds-gold/

Some populations and their ownership of gold:
Chinese people 14K tons;
Indian people 22K tons;
Turkish people 3.5K tons.

The gold facts re China are of great importance.

Gold produced in China is not reported and can not be sold outside of China;
Gold imported into China for personal use is reported;
Gold imported into China for currency purposes is not reported.
China admits to owning 1.7K tons gold. All of it by one bank;
It is estimated Chine owns 4.K tons of gold.

Some people think that Chinese figures are bogus and that China owns a lot more.

There is more actual gold withdrawn from the Shanghai exchange in one day than the total withdrawl for a year at the CRIMEX.

Chinese companies have a total deposit of $3T deposited in Chinese banks. At today's prices they could buy 70,000 tons of gold.

The Chinese govt has a reserve of $4T, some of which is gold.

Conclusion: China controls the price of gold and is currently accumulating.